As summer approaches and the Philippines remains a top tourist destination, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. 09-2025 to highlight Republic Act No. 12079, which establishes a value-added tax (VAT) refund mechanism for non-resident tourists.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 12-2025, which amends Section 5 of RR No. 3-1969 by including additional provisions related to the service of warrants and notices.
As the filing and payment deadline for Annual Income Tax Return (AITR) approaches, the Bureau of Internal Revenue (BIR) reminds taxpayers to comply with the updated filing and payment procedures for the AITR for calendar year 2024. These guidelines, outlined in Revenue Memorandum Circular (RMC) No. 34-2025, aim to streamline the filing process and ensure timely compliance.
The Securities and Exchange Commission (SEC) has implemented the Tax Identification Number (TIN) validation for its online services, the Electronic SEC Universal Registration Environment (eSECURE) and the Electronic Filling and Submission Tool (eFAST), beginning March 17, 2025.
Pursuant to the enactment of Republic Act (R.A.) No. 12066, otherwise known as the CREATE MORE (Maximize Opportunities for Reinvigorating the Economy) Act, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 9-2025, which specifically applies to the treatment of local sales of goods and/or services by Registered Business Enterprises (RBEs).
Pursuant to the enactment of Republic Act (R.A.) No. 12066, otherwise known as the CREATE MORE (Maximize Opportunities for Reinvigorating the Economy) Act, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 11-2025 to implement the mandatory issuance of electronic invoices and use of electronic sales reporting to identified taxpayers.
Pursuant to the enactment of Republic Act (R.A.) No. 12066, otherwise known as the CREATE MORE (Maximize Opportunities for Reinvigorating the Economy) Act, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 7-2025 to implement the reduced income tax rates for domestic and resident and resident foreign corporations classified as Registered Business Enterprises (RBEs) under the Enhanced Deduction Regime (EDR) and additional allowable deductions from gross income under Section 34(C)(8) of the Tax Code.
The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 5-2025 on 27 February 2025, which amends RR No. 2-98 by revising the withholding tax rates and adjusting the basis of certain income payments subject to creditable withholding tax to align with Republic Act No. 12066 or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act.
